Category Archives: Economy

The structural and ideological foundations of Australia’s economic malaise: Can we avoid one crisis after another?

The dramatic and sudden shuttering of businesses following the imposition of coronavirus social-distancing rules has propelled the Australian economy into what is increasingly looking like a deep recession contradicting the rhetoric that the fundamentals are strong and provide a springboard … Continue reading

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Neoliberalism: Attacks on the ABC and academia are entirely logical.

Funding attacks on the ABC and the social sciences in academia by Scotty from Marketing: they fit perfectly with Noam Chomsky’s propaganda model.

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BREXIT and the WTO

According to a report of the House of Lords on various BREXIT outcomes: “Trading with the EU under WTO rules alone would be the most disruptive option … this option is therefore unattractive for UK-EU trade in goods and in … Continue reading

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Equality or austerity after COVID?

Can the COVID crisis help drive a more equal Australia? The crisis reveals an alternative is possible, focuses attention on social needs and exposes the macroeconomic risks of growing economic insecurity. However, the shadow of debt and ‘snap back’ loom … Continue reading

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Why Australia’s strategic situation is far worse than we think (AFR 6.7.20)

For all the dire warnings in last week’s defence review, its chief fault lies in being far too optimistic.

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How to avoid a September cliff edge (AFR 29.6.20)

Bond sales to the Reserve Bank would allow stimulus to continue without busting the budget or raising taxes.

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Saturday’s good reading and listening for the weekend

What people in other forums are saying about public policy

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Three different views on post-COVID recovery

Two reports on social and economic options for post-COVID-19 recovery, one from the Grattan Institute and one from Phil Ruthven, have recently been published. We can assume there is a third, not yet public: a snap back and marketing plan … Continue reading

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“The Emperor has no clothes!” – should we invest in CCS?

The federal government will shortly vote on whether to significantly increase taxpayer funding of carbon capture and storage (CCS) technology in order to support ‘business as usual’ for the fossil fuel industry. Would this be a wise public investment?

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The Prime Minister’s reform agenda for skills

Although it is good that the Prime Minister has recognised the importance of skills, missing from his reform agenda are two of the most important issues: the nature of skills and how they are taught, and the use of skills … Continue reading

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The Grattan Institute’s Fiscal Recovery Plan

The economy is presently receiving an unprecedented, but time-limited, level of fiscal support. The report just released by the Grattan Institute provides a very good analysis of what is now needed to sustain the economic recovery.

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Time for a “Green New Deal” in Australia?

Is the current political economic situation an opportunity for some progressive policies?  ‘Never let a good crisis go to waste’ is a theme more familiar on the political right, but a “Green New Deal” could play well for the left … Continue reading

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Saturday’s good reading and listening for the weekend

What people in other forums are saying about public policy

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Worried about(Chinese) agents of foreign influence? Just look at who owns Australia’s biggest companies

The attention being given to possible covert influence being exercised by China in Australia shouldn’t distract us from recognising that very overt foreign influence now occurs through investment.

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Do the grandchildren really pay the debt? The problem with Scott Morrison’s plan for recovery, and MMT

Michael West investigates Modern Monetary Theory (MMT) and the false assumption that the national Budget is like the household budget, or a business. They are already creating new money while denying the proposition that creating new money will expand the … Continue reading

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Morrison throws the switch to vaudeville

Fresh from his redemption after The Great Bush-fire Debacle, Scott Morrison is reverting to type. In a farcical press conference he stated that Australia’s institutions and businesses were being targeted by a sophisticated state-based cyber actor.

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That’s not an Accord – now, this is an Accord!

Prime Minister Scott Morrison, on the back of some successful Covid19 crisis leadership, recently proposed that employer groups and the Australian Council of Trade Unions (ACTU) sit down together to negotiate a new Industrial Relations (IR) framework for the post … Continue reading

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Save Australia’s Dairy Industry

When John Dahlsen tells us we need to pay more for milk and our dairy industry needs urgent government intervention we should sit up and pay attention.

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Can we rely on the PM’s forecast economic boom?

Scott Morrison says Australia’s economy will have to expand by 3.75% per annum for the next five years to recover from the corona virus recession.

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BEVAN RAMSDEN. Campaigning for an independent, self-reliant, and sustainable manufacturing sector

Australia has lost much of its manufacturing industry, including the ability to produce essential strategic materials, and has become far too dependent on imports which are subject to disruption from pandemics, wars and foreign political threats.

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SATURDAY’s GOOD READING AND LISTENING FOR THE WEEKEND

What people in other forums are saying about public policy

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Population ageing in Australia and Japan

Australia and Japan are demographic polar opposites.

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Folly of following the Five Eyes Anglo-Saxon relic

The main countries comprising this electronic espionage group have made an abysmal hash of responding to the economic and health impacts of Covid-19. Yet the Australian government has chosen them to develop a “strategic” economic response to the Covid 19 … Continue reading

Posted in Defence/Security, Economy | 3 Comments

The white elephant in the room: Australia is ideal for planes, not trains!

How can Australia spend $130 billion that would best benefit the country?  A response, but not an answer, is not to spend it on an HSR (high-speed rail) system on the east coast.

Posted in Economy | 8 Comments

China’s Consumers Increasing the Price of Provoking the Dragon

Australia’s governments, businesses and media have accorded inadequate attention to the power of the Chinese consumer when picking fights with Beijing.

Posted in Asia, Economy | 4 Comments

GEOFF MILLER. ‘G5-Eyes’: a very strange economic grouping.

According to a report in The Australian of 8 June Treasurer Frydenberg has “led the push” and succeeded in establishing a series of “regular and formal” economic dialogue meetings among the countries that make up the “Five Eyes” intelligence-sharing group.

Posted in Defence/Security, Economy | 8 Comments

JACK WATERFORD. Punishing the ‘undeserving’ – the robo-debt fiasco

Heaven knows how the ultimate costs of the robo-debt fiasco will pan out. So far the Commonwealth has announced that it is paying back about three-quarters of a billion to nearly 400,000 people whose rights were trampled upon.

Posted in Economy, Politics | 8 Comments

SATURDAY’s GOOD READING AND LISTENING FOR THE WEEKEND

 What people in other forums are saying about public policy

Posted in Economy, Politics, Public Policy | 4 Comments

MARION TERRILL AND TONY WOOD. The dos and don’ts of fiscal stimulus

Long lines at Centrelink are a sobering sight. The fear of sustained mass unemployment has led to a renewed push for fiscal stimulus, including for governments to fast-track road and rail projects, re-establish a serious manufacturing sector in this country, … Continue reading

Posted in Economy | 1 Comment

BRENDAN COATES. Money for social housing the key to construction stimulus

There’s no doubt Australia’s construction industry is facing tough times. COVID-19 has caused migration to slow to a trickle. Some 2.6 million Australians have either lost their jobs or had their hours cut in the past two months. Many economists expect property prices to … Continue reading

Posted in Economy, Housing | 2 Comments